Cidara Therapeutics, Inc. (NASDAQ:CDTX) Short Interest Update

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Get Free Report) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 36,100 shares, a decline of 31.6% from the November 30th total of 52,800 shares. Currently, 1.2% of the company's shares are short sold. Based on an average daily trading volume, of 45,100 shares, the days-to-cover ratio is presently 0.8 days.

Cidara Therapeutics Price Performance

CDTX traded up $0.47 during trading on Friday, hitting $23.69. The company had a trading volume of 134,433 shares, compared to its average volume of 43,455. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $24.99. The company has a market cap of $166.94 million, a PE ratio of -0.93 and a beta of 1.13. The business has a 50-day moving average of $17.64 and a 200-day moving average of $13.86.

Institutional Investors Weigh In On Cidara Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company's stock valued at $569,000 after buying an additional 9,771 shares during the last quarter. Checkpoint Capital L.P. boosted its stake in Cidara Therapeutics by 25.5% in the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company's stock valued at $1,961,000 after acquiring an additional 37,009 shares during the period. Finally, RA Capital Management L.P. bought a new position in shares of Cidara Therapeutics during the third quarter valued at approximately $7,558,000. 35.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDTX. Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $34.00 price objective for the company. WBB Securities upped their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a "strong-buy" rating in a research report on Thursday, December 5th. StockNews.com lowered shares of Cidara Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, November 11th. Guggenheim assumed coverage on shares of Cidara Therapeutics in a research note on Friday, November 8th. They set a "buy" rating and a $33.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $24.00 target price on shares of Cidara Therapeutics in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cidara Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $32.20.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.